On 31 October,General Stores Signed a Six-Month,9% Note Payable to Purchase

Multiple Choice

On 31 October,General Stores signed a six-month,9% note payable to purchase inventory costing $10 000.The note requires payment of principal and interest at maturity.What is the account name and amount of a current liability that will be reported on the balance sheet as at 31 December?

A) Interest payable $900
B) Short-term loan payable $10 000
C) Short-term loan payable $6 667
D) Short-term loan payable $3 333